FEATURED COMPANIES

Biometrics has emerged as a suitable security and monitoring solution to meet this need and is based on the behavioral and physiological characteristics of an individual, which are difficult to replicate. Biometrics in the retail sector is seen as the most accurate and reliable system because it eliminates manual input, identity card exchange, and time theft.

Biometrics include the authentication of an individual by evaluating one or more unique biological traits, such as voice recognition, hand geometry, fingerprint identification, facial recognition, iris recognition, and vein recognition.

Analysts forecast the global biometrics market in the retail sector to grow at a CAGR of 21.30% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global biometrics market in the retail sector for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors operating in the market.

This report, Global Biometrics Market in Retail Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

- Emergence of contactless biometrics- For a full, detailed list, view the full report

Market challenges

- Security concerns- For a full, detailed list, view the full report

Market trends

- Incorporation of biometric workforce management systems at retail stores- For a full, detailed list, view the full report

Key questions answered in this report

- What will the market size be in 2020 and what will the growth rate be?- What are the key market trends?- What is driving this market?- What are the challenges to market growth?- Who are the key vendors in this market space?- What are the market opportunities and threats faced by the key vendors?- What are the strengths and weaknesses of the key vendors?

The author of the report recognizes the following companies as the key players in the Global Biometrics Market in Retail Sector: Crossmatch Technologies, Honeywell Security, M2SYS Technology, NEC, Safran and Suprema

Commenting on the report, an analyst from the research team said: “Retail stores are increasingly turning to the implementation of biometrics workforce management systems to provide access to authorized workers and deny entry to unauthorized workers The workforce is a major expense for any organization, and in the retail sector it is imperative that the workforce is managed effectively.”

According to the report, physical contact is necessary for fingerprint biometrics, requiring an employee to place a finger on the sensor. Concerns related to hygiene are increasing among individuals because of increased instances of communicable diseases, such as Ebola and swine flu. Therefore, organizations are reluctant to adopt contact biometric solutions.

Further, the report states that high cost is the major inhibitor in the adoption of biometric technologies.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.